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us stock market, stock split
Begin part 3 of 3
*NOTE: Part 2 follows part 3 this evening.
THE PLAYS
Upside:
New Plays: Again looking for an upside bounce and looking at some very strong stocks that still held up in the selling last week and are in good shape after Monday. After a rebound we can look at some downside as well.
Upside:
Play Date: 07/30/2007
ALGN (Align Tech--$27.01; -0.07; optionable): Invisalign system for straightening teeth
http://biz.yahoo.com/p/a/algn.html
EARNINGS: 7-25-07
STATUS: Test breakout. ALGN is testing back after gapping higher on its earnings results announced last week. That gap higher took ALGN out of a nicely formed 11 week base with a very flat, tight lateral move from mid-July. Great break higher from a solid pattern, filling the gap Monday on the intraday low (26.36) and then a rebound to close flat. Now that it has filled the gap we will see if ALGN can run for us. It has a great trend but it tends to gobble up ground in a hurry; with this test it is giving us a better entry point than some of the prior moves. Like the test and the fact that it reported solid earnings already.
Volume: 868.805K Avg Volume: 984.336K
BUY POINT: $27.77 Volume=1.2M Target=$33.38 Stop=$2597.00
POSITION: CUA JE - Oct. $25c (70 delta) &/or Stock
http://www.investmenthouse.com/cd/algn.html
Play Date: 07/30/2007
OIH (Oil Services Hldrs Trust--$179.12; +1.12; optionable)
http://biz.yahoo.com/p/o/oih.html
STATUS: Test 50 day EMA. OIH is getting right for a buy again so it can once more make us some money. It broke out from a year long base in April and ran higher up the 18 day EMA (180.73). After 5 bounces up the 18 day EMA, it needed a deeper test and has come back to the 50 day EMA (174.93) to test, tapping that level on the Monday intraday low and then bouncing back up nicely. That is what you like to see off the 50 day, and we are looking to move in as OIH continues higher after re-setting its rally with this test of key support.
Volume: 11.433M Avg Volume: 9.828M
BUY POINT: $181.68 Volume=12M Target=$198.95 Stop=$177.55
POSITION: ODL JP - Oct. $180c (55 delta)
http://www.investmenthouse.com/cd/oih.html
Play Date: 07/30/2007
SJR (Shaw Communications--$48.97; -0.38; no options): Broadband cable, internet, etc. in US, Canada.
http://biz.yahoo.com/p/s/sjr.html
EARNINGS: 7-13-07
STATUS: Test breakout. SJR broke higher in early July and rallied nicely up the 10 day EMA (48.61). It surged Thursday and then reversed on the session, indicating it needed a pullback to set up for its next move higher. Nice fade back to the 10 day EMA (48.61) on the Monday low and we are looking for SJR to continue the run. It just split and it did not give up any ground other than this little test. Looking for a bounce from here to start it up again and to show us it is time to move in.
Volume: 219.8K Avg Volume: 147.362K
BUY POINT: $50.15 Volume=221K Target=$57.95 Stop=$48.22
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/sjr.html
Play Date: 07/30/2007
SNDK (Sandisk--$56.56; +1.73; optionable): Memory chips, memory cards
http://biz.yahoo.com/p/s/sndk.html
EARNINGS: Announced 7-19-07
STATUS: Test 18 day EMA. SNDK was one of the chip leaders off their lows, and though it is not near a new high, it is set up well to make us money. It tested back to the 18 day EMA (54.48) Friday, forming a handle to a larger 10 month cup with handle pattern. Nice move to start July, and by the time its very good earnings came out all it could do was gap higher and then sell back as the market had started its July issues. It used the market selling to test back last week, finding support at the 18 day EMA. Excellent action in a very weak market and SNDK is in very good position to rebound and give us a nice run either on its own or with the assistance of the market overall.
Volume: 13.348M Avg Volume: 8.904M
BUY POINT: $56.89 Volume=12M Target=$65.45 Stop=$53.96
POSITION: SWF JK - Oct. $55c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/sndk.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CELG, EDU, GME, GOOG, MA, PCLN, NVDA, VLO
GME: Going to have to show us something here as it tapped at the late June consolidation range on the low and bounced.
MA: Surging back up and a buy as it continues
PCLN: Good showing of volume as it bounced back up and closed just over the 50 day EMA.
VLO: Going to try and bounce here. Key test point is 72 to start.
End part 3 of 3
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us stock market
stock split
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